Franchising Balut eggspress
Balut Eggspress serves penoy, batter-coated eggs (kwek-kwek), quail eggs (tokneneng), and the best-selling fried day-old chicks and steamed balut. Its franchiser, Jeanne E. Bañez, opened her first stall at the Farmers' Market in Cubao, Quezon City, in October 2003, but now she has four company-owned outlets and 14 franchised stalls in Metro Manila.
Bañez started franchising Balut Eggspress late last year, offering it for P290,000 plus a fixed monthly royalty fee of P3,000 for product research and development. The franchise is good for three years and eight months and the fee covers the food cart and initial inventory. Franchisees must be ready to rent space at P15,000 to P18,000 a month and to pay three months' rent in advance, and to put up two months' security deposit and a construction bond. To get the ball rolling, applicants must submit a letter of intent, their bio-data, NBI clearance, proof of billing address, and work and financial details. "If all is well, we can come to a franchise agreement in as short as one week," says Bañez. "We deliver 350 balut, 90 penoy and 20,000 pieces of quail eggs a day. If an outlet exceeds these, we usually do another delivery within the day."
Michelle Silvino set up her stall on market! Market! at The Fort in Taguig late last year. She recouped her initial investment in five months. Now she nets P30,000 to P40,000 each month from her stall. "I am very pleased with the way my business is doing," she says.
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